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WSP AT A GLANCE

Laurentian Bank Conference

Alexandre LHeureux
President and CEO

April 6, 2017
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A LEADING GLOBAL PROFESSIONAL CONSULTING FIRM

A leading global professional


consulting firm, with revenues from
professional services (no construction
risk)

A powerful global brand ranked


amongst the best by ENR, with
technical leadership in Transportation,
Civil Infrastructure and Buildings

One of the fastest growing firms in our


industry

The engineer behind award-winning


projects
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WE HAVE BUILT A DIVERSIFIED GLOBAL FIRM

7,500 4,525
CANADA NORDICS

7,000
UK & IRELAND
3,650
3,370
ASIA
ASIA

6,760 675
CONTINENTAL
US EUROPE

2,330
AUSTRALIA
NEW ZEALAND

1,040 700 2,100


MIDDLE EAST
CENTRAL & SOUTH INDIA
SOUTH AMERICA AFRICA
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A LEADING CANADIAN FIRM, WITH THE MOST EXPOSURE


OUTSIDE OF CANADA

$4,000.0

1 Top international
design firm
$3,000.0

1 Top international design firm


in transportation
$2,000.0

2 Top international design firm


in power
$1,000.0

3 Top international design firm


in buildings

$-

Based on design-specific revenue generated from projects outside each firm's respective home country
Source: ENR Top 225 Global Design Firms/ENR Sourcebook December 2016
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OUR POSITIONING IN THE INFRASTRUCTURE


AND CONSTRUCTION VALUE CHAIN

MATERIALS
EQUIPMENT AND
SUPPLIERS ENGINEERED
WE HAVE A HORIZONTAL PRODUCTS
FEE-FOR-SERVICE MODEL

CONSTRUCTION
SERVICES
PLANNING DESIGN
(construction/project
management)

CONTRACTORS
OPERATION AND
ARCHITECTS AND
MAINTENANCE
DEVELOPERS
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CONSISTENT NET REVENUES* GROWTH

[VALEUR]**
[VALEUR]
CAGR
4,486.8
48%

2,349.9

1,677.2

1,020.1

12 13 14 15 16 17E

* In millions $CAD - Non-IFRS measures


** Mid-point of 2017 guidance provided by the Corporation
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ADJUSTED EBITDA* AND ADJUSTED EBITDA MARGINS*

[VALEUR]**
499.0
441.5
CAGR
59%
12.3%
253.5
180.6
10.8%
10.8% 9.8%
125.4 Impact 10.2% [VALEUR]**
of WSP
acquisition Impact
of PB
acquisition

12 13 14 15 16 17E
Adjusted EBITDA Adjusted EBITDA margin

* In millions $CAD - Non-IFRS measures


** Mid-point of 2017 guidance provided by the Corporation
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A SOLID BACKLOG*
10.1 months
of revenues

5,667.4 5,668.8
5,529.7 5,371.2
5,199.7 Q4 2016 COMPARED TO Q4 2015

(in millions of dollars, except percentages) Total

Hard Backlog Q4 2016 $5,668.8


Hard Backlog end of Q4 2015 $5,199.7
Net change ($) $469.1

Organic Growth 0.7%


Acquisition Growth 7.7%
Foreign Currency Impact 0.6%
Net change % Q4 2016 vs. Q4 2015 9.0%

Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016

* In millions $CAD - Non-IFRS measures


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OUR DIVERSIFIED PLATFORM SUPPORTS OUR STRATEGY

30% 49%
AMERICAS TRANSPORTATION AND
INFRASTRUCTURE

31%
PROPERTY AND

37% 19% BUILDINGS

CANADA
EMEIA

14% 11% 9%
INDUSTRIAL ENVIRONMENT
APAC
AND ENERGY

Percentage of 2016 net revenues


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ECONOMY: ATTRACTIVE END MARKETS

Governments massively SWEDEN


investing in infrastructure SEK 522 billion between 2014-2025 for
to support economies infrastructure projects

UK
CANADA National Infrastructure Delivery Plan
$CAD 120 billion infrastructure program Over 100 billion in infrastructure by 2021

UNITED STATES AUSTRALIA


$US 305 billion FAST Act > $AUS 50 billion infrastructure investments
>$200 billion in ballot initiatives
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2016 US ELECTIONS LOCAL TRANSPORTATION AND
INFRASTRUCTURE-RELATED BALLOT INITIATIVES

WA IA
IL
$54B Indianapolis (Marion
Increase in taxes for BRT County) cent income Lockbox constitutional
and light rail projects tax for county transit plan amendment to protect
transportation funding

NJ

CA Lockbox
constitutional
Los Angeles - $120B in amendment to
bonds for new transit and protect
road upgrades transportation
funding
San Francisco - $9.5B in
bonds for BART

Alameda-Contra Costa
Transit District - 20-year
renewal of expiring parcel NC
(property) tax for AC
Transit Wake County
(Raleigh) cent
sales tax increase

GA

cent sales tax for 40 years for MARTA


TX
City of Atlanta - .4% tax increase for
City of Austin - $720M $379M in various transportation projects
bond initiative
Fulton County - .75-cent sales tax
increase for projects outside Atlanta
GROWTH BASED ON
CONTINUED M&A FOCUS
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WE WILL CONTINUE TO ENHANCE OUR SKILLS

CORE SECTORS

TRANSPORTATION BUILDINGS INFRASTRUCTURE ENVIRONMENT

OPPORTUNISTIC DEVELOPMENT

POWER AND OIL AND GAS INDUSTRIAL MINING


ENERGY

WE WANT TO CONSOLIDATE AND EXPAND


OUR CORE SECTORS IN ALL OF OUR REGIONS
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WE WILL CONTINUE TO PERFORM ACQUISITIONS IN


TARGETED GEOGRAPHIES
EXPANDING
GEOGRAPHICALLY
ADDING SPECIFIC
EXPERTISE

SUBSCALE IN
CERTAIN
SECTORS

EXPANDING
GEOGRAPHICALLY

SUBSCALE IN
CERTAIN
SECTORS
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2016 ACQUISITIONS

Norway
Structural engineering
115 employees
UK
Public transportation and infrastructure
2,000 employees
Sweden
Power and energy
US
25 employees
Cogeneration
10 employees
Mexico Finland
Structural engineering Project management in buildings
50 employees 20 employees

Australia
Water division - Chile, Peru Structural engineering
Water 20 employees
250 employees

Financed using balance-sheet


Additional skill-sets within our network
New geographies
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THE RIGHT LEVERAGE* PROFILE TO SUPPORT


GROWTH STRATEGY

1.8
1.7 1.7
$US 1.3 billion credit facility
Adjusted EBITDA growth and
strong free cash flow
Continued support from the
capital market
0.8
0.6

12 13 14 15 16

* Adjusted for TTM acquisitions


LOOKING AHEAD
2017 OUTLOOK

Net revenues* Between $5,000 million and $5,300 million

Adjusted EBITDA* range Between $510 million and $560 million

Q1: 20% to 22%


Seasonality and Ajusted EBITDA* Q2: 24% to 26%
fluctuations Q3: 28% to 30%
Q4: 24% to 26%

Tax rate 27% to 29%


DSO* 80 to 85 days
Amortization of intangible assets
Between $65 and $75 million
related to acquisitions
Capital expenditures* Between $120 and $130 million
Net debt to Adjusted EBITDA* 1.5x to 2.0x

Acquisition and reorganization costs* Between $15 million and $25 million 1)

* Non-IFRS measure.
1) Due mainly to personnel and real estate integration costs related to the acquisition of Mouchel completed in
Q4 2016 and to real estate integration costs pertaining to the MMM acquisition completed in Q4 2015.
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2017 REGIONAL OPERATIONAL OUTLOOK

CANADA NORDICS
Sluggish economy Positive and growing outlook
Changing economic landscape

UK
Economy set to continue to
expand at moderate pace
ASIA
Slowdown in mainland China
MIDDLE EAST
AMERICAS Difficult economic
Strong US Transportation and conditions
Infrastructure pipeline

SOUTH AUSTRALIA
AFRICA Transportation is the fastest growing
Difficult economic segment of all our businesses worldwide
conditions
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2017 ASSUMPTIONS
OPPORTUNITIES RISKS

Mega trends: Increased Slower than expected


demand for energy,
urbanization, climate infrastructure program in
change Canada

Right sectors and Ongoing instability in


geographies Middle East

Global investments in Oil and gas remains at


infrastructure current level

Increased brand Potential impact


awareness of Brexit
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REAFFIRMING OUR 2015-2018 STRATEGIC PLAN

CLIETS

OPERATIONAL
EMPLOYEES CLIENTS GROWTH
EXCELLENCE

45,000 10% 11% $ 1.3B


EMPLOYEES OF OUR REVENUES EBITDA MARGIN THROUGH ACQUISITIONS
FROM GLOBAL
CLIENTS
> 100% 5%
CASH FLOW/NET INCOME ANNUAL ORGANIC GROWTH

< 85 DAYS $6.0B


DAYS SALES NET REVENUES
OUTSTANDING (DSO)
THANK YOU

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